What is Polkadot Blockchain?

Polkadot is a fast and scalable blockchain network that helps establish a connection between networks that are not usually interoperable. Its parallel blockchain or para chains minimize the load on the main chain to make the transactions within the Polkadot network fast and scalable. The bridge, or a connecting layer, eases the transfer of data and value to even non-blockchain databases. DOT, the native token, is used for staking and as a measure of governance.

The Polkadot’s development is overseen by the Web3 Foundation, which aims to popularize the concept of a decentralized web for data security and autonomy.

Why Choose Polkadot for your Project

Components of Polkadot Blockchain

Polkadot is a fast and scalable blockchain network. It allows components, such as Relay Chain , Parachains , and Nominated Proof-of-Stake (NPoS) to delivers enterprise-ready network security, scalability, and confidentiality. Take a look at the primary components that a PolkaDot network has.

Relay Chain

Relay Chain

The central chain of Polkadot, the relay chain, is built using Substrate. Relay chain is responsible for the shared security in the network, consensus and cross-chain interoperability.

Parachains

Parachains

Connected to the Relay Chain, Polkadot’s parachains are independent layer-1 blockchains that run in parallel to each other. Each parachain can have an individual design, token economy, and functionality.

Parathreads

Parathreads

When parachains are connected to Polkadot using a pay-as-you-go model, they are called parathreads. Entry barrier for blockchains are lowered thus it does not need continuous connectivity to the network.

Components of Polkadot Blockchain
Bridges

Bridges

Special parachains that Polkadot to connect and communicate with external networks are known as Bridges. Specially designed making the Polkadot ecosystem compatible with external blockchains.

Nominated Proof-of-Stake (NPoS)

Nominated Proof-of-Stake (NPoS)

Polkadot’s consensus mechanism is a nominated proof-of-stake (NPoS) network, designed to maximize chain security with the roles of validators and nominators.

Polkadot Governance

Polkadot Governance

Polkadot has a sophisticated system of governance where DOT holders can register to be considered for the Polkadot Council that consists of 13 members with a fixed term of seven days.

Benefits of Polkadot Blockchain

Polkadot is a public blockchain that is interoperable, safe, and efficient. See what more benefits it has to offer for building your blockchain project.

Transactional Speed

Transactional Speed

Since the parachains lighten the load for the main relay chain, transaction rates reach upto 1000 transactions per second.

Proof of Stake Protocol

Proof of Stake Protocol

The consensus mechanism in Polkadot is a proof of stake mechanism which calls on techies validators that have staked their DOT on the network.

Interoperability

Interoperability

As some say, Polkadot offers true interoperability between networks like Bitcoin, Ethereum, and non-blockchain networks.

Scalability

Scalability

With multiple parachains existing within Polkadot, it can support multiple smooth transactions in the blockchain.

Customizable

Customizable

Polkadot can be customized easily using the Substrate network, making it a brilliant choice for developers.

Secure

Secure

Though each parallel chain is independent, the security is unified. This makes the whole network secure.

Why Choose Polkadot for Blockchain Development?

We have curated few parameters for you to match with your Blockchain project development, See if Polkadot is the right choice for your blockchain project.

Features

Public

Private

Consortium

Anonymous

Speed

Avg Gas fee

Interoperable

Native token support

Value

Yes

No

No

No

1000 TPS

0$

Yes

Yes

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Use Cases of Polkadot Blockchain

Polkadot is a next-generation blockchain that attempts to promote a heterogeneous multi-chain framework. Look at all the business opportunities it can bring to enhance innovation and efficiency.

Acala

Acala

A Polkadot parachain optimized for DeFi. Acala was one of the first parachains to deploy on Polkadot’s test network Rococo. Acala aims to become DeFi hub for the entire ecosystem while bringing financial stability, liquidity, and accessibility.

Moonbeam

Moonbeam

Moonbeam hopes present the closest experience to Ethereum while unholding some of the valuable functionality Polkadot has to offer.

KILT

KILT

The Polkadot based project that provides an identity layer. The platform is built to verify Internet-based identity credentials. It’s primary use comes as the Internet of Things.

Plasm

Plasm

A smart contract platform which uses the blockchain’s Substrate framework. Its mainnet already supports layer-2 solutions such as State Channels Plasma and Rollups.

Litentry

Litentry

Cross-chain identity built by RockX’s Lam is tipping Litentry will demonstrate deep knowledge in technical execution which is crucial for quick launch on Polkadot.

Interlay

Interlay

Interlay is building a Bitcoin-Polkadot bridge with cross-chain infrastructure and DeFi products. This will allow users to use their BTC to tokenize and transact on Polkadot’s DeFi platforms.

FAQs

Here are answers to some questions about PolkaDot that our clients frequently ask. Drop us a word if the answers to your concerns or doubts aren't listed here. We'll get to you within 24 hours.